The Dow Jones closed down 31.62 points or 0.37% to 8483.93
The market is moving around the upper bearish trend line with low volume. 8 trading days ago it had a weak bullish breakout.
If the market doesn’t find support at 8083.50 (chart 2) on the Fibonacci Retracement I will expect this market to fall below the last low of 7500.
I am repeating myself here from Friday’s Market Trend i know but until volume returns expect much of the same story. “sorry”.
Categories: I'm a BEAR
Hi everyone, I hope you all had a great Christmas.
The Dow closed up 47.07 points or 0.56% to 8515.55
The market is bouncing around at the upper bearish trend line after hitting resistance at the 61.8% Fibonacci Retracement and making a weak bullish breakout from a bearish trend.
With momentum to the dowside I am still bearish on the market.
If the market doesn’t find support find at 8083.50 (chart 2 below) expect it to fall below the last low of 7500.
The NASDAQ closed up 5.34 or 0.35% to 1530.24
The NASDAQ hit resistance at the 61.8% Fibonacci Retracement line and then produced a bearish rally breakout 4 trading days ago. This is a bearish move within the NASDAQ market. It could find support @ 1422.73 but if it doesn’t expect this market to fall to below 1300.
Categories: I'm a BEAR
